White Paper for an initial token offering

March 2018

Index Disclaimer of liability .……..………………………………………………………..…… 3 MINERY project overview ……………………………………………………………… 7 Services ………………………………………………………………….…………..…….9 Hosting ………………………………………………………………………………..……9 Personal approach ……………………………………………………………………….10 Hardware repair …………………………………………………………………….……10 Transparency ……………………………………………………………………….…….10 Website ……………………………………………………………………………………10 Project history ……………………………………………………………..………...…. .11 Market overview .………….……………………………………………………………. 12 MINERY pricing ………...……………………………………….……………….…….. 14 MINERY insurance …………...……………….……………………………………..…16 MINERY mining economics…...………………………………………..…………...... 17 Token management …………………………………………………………………….18 Token lease ………………………………………………………………………………18 Software ………………………………………………………………………………..…19 Token sale description ……………………………...………………………………. …20 Payment options …………………………………………………………………………21 Token distribution and rates ………………………….………………….……………..21 MINERY 2018 Road map…………………………..……………………………………22 MINERY team …………………………………………………………………………....23 Risk factors …………………………………………………………..……………….….25 Future plans ………………………………………………………………….…………..30

DISCLAIMER OF LIABILITY Please read the following disclaimer carefully. If you have any doubts regarding your further course of action, we recommend seeking advice from legal, financial, tax and other professionals first. No part of this document (hereafter to be referred to as the White Paper) shall be reproduced, presented or shared with anyone without incorporating this Disclaimer of Liability. The sole purpose of this White Paper is to present information about MINERY and MNRY tokens to potential token holders in reference to the potential MNRY token sale. This White Paper is for INFORMATIONAL PURPOSES ONLY. This information may be incomplete and does not imply any contractual or legal obligations. However, we have taken all the necessary measures to provide information in this White Paper that is accurate, complete, and as timely as possible. This White Paper and all the materials it contains do not constitute professional advice or a formal recommendation. Furthermore, MINERY reserves the right to modify or update this White Paper and the information it contains at any moment without any notice. Within the limits permitted by applicable laws, regulatory acts and other rules of conduct, MINERY does not provide any guarantees and shall not be liable for any direct or indirect expenses or losses, including, but not limited to losses in contract or in tort, loss of earnings, profits or revenue stemming from reliance on the accuracy, recency, authenticity or completeness of information presented in the White Paper. Furthermore, MINERY shall not and does not aim to provide a guarantee, statement or promise of any kind to any natural or legal person, public or any other body, regarding the accuracy, authenticity, completeness or recency of information presented herein. Potential MNRY token holders should seek advice from their respective independent advisers before considering entrance into any legally binding agreements or contracts based on the information presented herein. This White Paper is not composed in accordance with, and is not subject to, laws or regulations of any jurisdiction which are designed to protect investors. This White Paper is not governed by such laws or regulations. No public body of any jurisdiction has analysed or approved this White Paper for token circulation or any other activity on their respective territory. Releasing or sharing this White Paper within any jurisdiction does not imply its compliance with applicable laws, requirements or regulations. The tokens described in this White Paper are not being offered or advertised, cannot be resold or disposed of by the owner in favour of natural or legal persons (I) holding a Green Card of the United States of America, or (II) citizens, residents or other representatives of the United States of America (all states including the District of Columbia), Puerto Rico, US Virgin Islands or (III) any other country or territory where cryptocurrency operations are restricted or regulated in any way and in which a potential token holder is a resident. The purchased tokens cannot be transferred, sold, or in any way disposed of by the owner in favour of aforementioned persons. Potential token holders are solely liable for establishing (through their own means, including advice from third-party legal, tax or other professionals) the legality within any given jurisdiction and

situation, as well as taking all the necessary measures to comply with regulations and requirements without shifting the liability to MINERY. Persons seeking to purchase MNRY tokens (I) holding a Green Card of the United States of America, or (II) citizens, residents or other representatives of the United States of America (all states including the District of Columbia), Puerto Rico, US Virgin Islands or any other territories of the United States of America can request Minery to conclude an agreement in compliance with Regulation D. Potential token holders are solely liable for establishing (through their own means, including advice from third-party legal, tax or other professionals) the legality within any given jurisdiction and situation, as well as taking all the necessary measures to comply with regulations and requirements without shifting the liability to MINERY. By creating tokens described in this White Paper, MINERY does not aim to create stocks, bonds, securities or any other kind of financial instrument or digital currency. MNRY token has not been registered as a security under any jurisdiction the potential token holder may be subject to. Nothing in this White Paper shall be deemed to constitute a prospectus of any sort or a solicitation for investment, nor does it in any way pertain to an offering or a solicitation of an offer to buy any securities in any jurisdiction. However, legislative bodies of one or more jurisdictions may, sooner or later, despite MINERY disclaimers, define MNRY tokens as securities. MINERY shall not be liable for such a definition and subsequently, for any consequences of such an event for potential token holders. MINERY shall not provide any advice or report on the possibility of purchase, sale or any other action with MNRY tokens. The information in this White Paper must not serve as a basis for decisions to enter a legal contract and/or make any token purchases. This White Paper must not be construed as a solicitation for investment, nor does it in any way pertain to an offering or a solicitation of an offer to buy or in any other way dispose of MNRY tokens, and/or pay in cryptocurrency or any other form of payment. In case of any doubts, we recommend potential token holders seek advice from their own professionals regarding the possibilities and potential consequences of purchasing the tokens within their jurisdictions. Certain statements, estimates and financial information contained in this White Paper constitute forward-looking statements or information. Such forward-looking statements or information involve known and unknown risks and uncertainties, which may cause actual events or results to differ materially from the estimates or the results implied or expressed in such forward-looking statements. Nothing in this White Paper shall be deemed to constitute a promise or a guarantee of high performance or high demand for MINERY services and MNRY tokens, or a promise or a guarantee of any sort of profits or dividends resulting from holding MNRY tokens. MINERY tokens confer no other rights in any form, including, but not limited to any ownership, distribution (including but not limited to profit), redemption, liquidation, proprietary (including all forms of intellectual property), or other financial or legal rights, other than those specifically described in the White Paper. However, MINERY reserves the right to request (for informational purposes only) opinions

and feedback from token holders regarding specific questions. MNRY tokens do not confer voting rights on any business matters concerning MINERY. The Russian language White Paper is the primary official source of information about the project. The information contained in the English version of the White Paper may from time to time be modified. It is possible that in the course of translation or communication some of the information contained herein may be lost, corrupted, or misrepresented. In the event of any conflicts or inconsistencies between such translations and communications and the official Russian language White Paper, the provisions of the Russian language original document shall prevail. By reading this White Paper further, you confirm that you have read, understood and accepted the provisions and restrictions set out in this Disclaimer of Liability.

MNRY is a standard ERC20 Ethereum token.

Total token amount: 55,000,000.

Price per MNRY token during the entire token sale – one US dollar

Token buyers will receive bonus tokens during the token sale.

The first two weeks it’s 10 bonus tokens for each 100 bought.

Week three and four - 8. Week five and six - 6 and so on until the end of the initial

offering.

Token distribution: for every 100 tokens sold 15 additional tokens will be issued for

the MINERY team and advisors fund.

Website: MNRY.io

We accept payments in: Bitcoin (BTC), Ethereum (ETH),

Wire transfers in US dollars, Euro and Russian Roubles.

Token presale launch: 15 March 2018

Token presale end: 30 June 2018

Main sale launch: 01 July 2018

Main sale end: 30 September 2018

Date of token issue and distribution among users: 10 October 2018

ALL MNRY TOKENS ARE BACKED BY REAL ELECTRICAL POWER AT MINERY

MINERY PROJECT REVIEW The MINERY project is operating through the following companies: MINERY, registered under ___ jurisdiction (Company 1), conducting the initial token offering; and a hardware supplier, a Russian company LLC MINERY RU, Russia (Company 2) dealing with hardware installation and maintenance processes at mining facilities in Bratsk, Ust-Ilimsk, Irkutsk according to agreements with OOO Bratskaya stroitelno-montajnaya kompaniya (facility construction) and AO Bratskaya elektrosetevaya kompaniya (power supplier), one of the largest power suppliers in the Irkutsk region. In total the project implies construction of five mining facilities with the overall rating of 55 MW. A miner going after maximum profits seeks to:

● reduce hardware maintenance costs; ● optimizing the working conditions for the hardware; ● providing timely repairs in case of a breakdown.

Another fairly important task facing the industry is to improve mining infrastructure by saturating the market with client-oriented services (increasing the range of cryptocurrencies available for mining, hardware sales on the spot, cryptocurrency exchange integration, legal support for clients and more), which is the main development direction for the near future of MINERY. It is common knowledge that digital devices are climbing the list of top power consumers across the world. Chaotically springing up mining farms have adverse effects on power balance of different regions, sometimes relying on wasteful sources of electricity such as non-renewable energy power plants that are polluting and heating up the atmosphere. With a greener approach, MINERY is set to create mining facilities that are near harmless to the environment. This goal can be achieved by building mining compounds near the cheapest and most eco-friendly power sources – hydroelectric power plants. This approach drives the expenses down as well as minimizes power delivery expenses. Irkutsk region is a unique one in that the structure of the power grid is comprised of hydroelectric power plants by 68%, and that is where our mining facilities will be built. The main power sources: Bratskaya HEPP Country: Russia Output: 4500 MW Irkutskaya HEPP Country: Russia Output: 662,4 MW Ust-Ilimskaya HEPP Country: Russia Output: 3840 MW The Irkutsk region climate: Climate conditions in the Irkutsk region stand out from others with the region’s long winter and short summer.

Average winter temperature -21°С. Average summer temperature +17 °С. Average annual temperature -2 °С

Bratsk climate

Measurement

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year

Absolute maximum °С

3.8 7.4 14,9 22.8 34.2 36.1

35.2 32.5 27.5 23.2 12.0 6.6 36.1

Average maximum °С

-18 -12 -5 4 13 22 24 21 13 3 -10 -16 3

Average temperature °С

-22.7 -20 -11 -0.5 7.3 14.6

18.0 15.0 7.8 -0.7 -11.6 -20.7 -2

Average minimum °С

-30 -27 -17 -6 2 8 13 10 3 -3 -15 -27 -7

Absolute minimum °С

-50.9 -49.8 -44.1 -32.3 -14.1 -5.2 1.5 -2.8 -8.1 -26.4 -43.9 -50.7 -50.9

Source: Wikipedia Such climate conditions allow for an effective heat transfer system for our mining facilities. Our partner power supplier: AO Bratskaya elektrosetevaya kompaniya Established 01 April 1976 This power supply company is the third in the Irkutsk region in terms of electrical facilities and power lines length: Electrical facilities - 34 973. Power lines length – 4720 km Transformer substations – 1 648. Transformer substations rating – 1 265 MVA. Apart from that the Irkutsk region is an industrially-developed region which means finding local IT and service high-grade professionalsis not a problem.

MINERY has set a goal of creating mining facilities that are both highly efficient and eco-friendly. As a result, MINERY can declare the ability to provide unprecedentedly convenient and profitable terms for cryptocurrency mining1: Hosting option:

Hardware units:

Electricity cost:

Maintenance cost:

Total cost per unit of power:

MINERY

1-50000

from $0.04 kWh

from $0.03 kWh

from $0.07 kWh

Total cost per unit of power for installed hardware will be $0.07 kWh. Comparisons with other mining options can be found in the Market Overview section. Services MINERY offers a complete service package for a turnkey mining setup. Flexible partnership options are the key features of the project: hardware procurement, hosting, repairs and technical support are available. We are ready to tailor the package for individual requests if our clients see fit. The basic MINERY package includes installation, tuning and maintenance of mining hardware at one of our mining facilities. To become a MINERY client all you need is to buy or rent MNRY tokens, hosting at least one hardware unit: an ASIC or a GPU farm. Hosting MINERY offers mining hardware hosting services to MNRY token holders and renters. All the hardware is located in Bratsk, Ust-Ilimsk and Irkutsk. ___________ 1 MINERY takes all the necessary measures to maintain this price, however, the company cannot guarantee it, especially in case of electricity price increase, new capacities commissioning and/or capacities redistribution. The rates used in MINERY can be changed in the future.

Personal approach MINERY can tailor a service package to your personal preferences. If you have a non-standard request, make sure to email us to support@MNRY.io and we’ll find the best options for you. Hardware repair Our service center offers repairs of your hardware for a fair price. The service center is on-site with the mining facility, which reduces logistical expenses, both financial and time. Highly professional specialists guarantee high quality and fast repair. Prices vary depending on the type and severity of damage. Transparency MINERY offers real-time transparency of operations in the personal area. The dashboard shows the results of mining, all the profit data, both deposits and withdrawals, fee charges and other services are done automatically and can be audited at any moment. Website On our website at MNRY.io you can acquaint yourself with various details, buy hardware and see the terms and conditions for hardware placement and our other services as well as track the project’s progress. Details: Which cryptocurrencies can you mine? The MINERY compound allows you to mine the most popular and profitable coins such as BTC, ETH, ETC, LTC, DASH, ZEC, XMR. Depending on your hardware’s characteristics, we can add support of new cryptocurrencies upon user’s request. If something breaks down, does mining stop? The hardware is working around the clock and is subject to wear and tear. Our service center is located on the same site as hardware. This means that in case of malfunction, repairs will be applied as soon as possible. The vicinity of the service center ensures 95% of uptime. A lot of mining services cannot offer this advantage and are forced to use third-party service centers, often located far from the farm itself. As a result, downtime is increasing, resulting in lower profits.

PROJECT HISTORY In 2016 entrepreneurs Ilya Bruman and Aleksey Paikin decided to begin cryptocurrency mining. To research this process and the issues that may arise in this search for new technological solutions, the first experimental mining center was created in the town of Korolev, Moscow region. All the main types of mining hardware, air conditioning, forced air cooling and fire safety mechanisms have been tested. A proprietary software on OS Linux for centralized management and monitoring mining farms was created. Experimental mining centers in Korolev and Moscow are successfully operating now, allowing the team to receive the necessary expertise as well as considerable profits. It was at that stage when a decision was made to build a new and powerful mining compound in an energy surplus region that could provide hosting and maintenance services to miners through a token system. After a thorough research, the towns of Bratsk, Ust-Ilimsk and Irkutsk of the Irkutsk region were chosen. Due to the climate conditions in the region and its vicinity to hydroelectric power plants, it becomes possible to provide efficient cooling to the hardware, ensuring its stable operation. The lower expenses allow us to decrease energy efficiency substantially. At the moment we have signed agreements with our partner (AO BESK) on servicing five facilities in the Irkutsk region with the total power capacity of 55 MW. One of the strong advantages of our project is its reliance on eco-friendly renewable energy source which is hydroelectric power. One of the main turning points during development of the MINERY project was the decision to host mining hardware inside large 10-15 MW facilities. This allows for: . decreased reliance on real estate, driving down expenses on acquiring and rent; . simpler electrical and communication network, shorter power lines; . decreased power loss due to shorter power lines; . lower communication lines length; . more optimal mining hardware placement and heat transfer systems within the facilities. In separate cases one may use abandoned facilities and warehouse space, keeping the finishing work to a minimum. Besides, the cold climate of Irkutsk allows for a much cheaper heat transfer solution. For the most efficient use of miner hours, the service center will be in the near vicinity of the mining facilities.

MARKET OVERVIEW

Today we’re seeing explosive development of cryptocurrency mining all over the world. When choosing the location for such a business, the ideal placement will offer both low electricity rates and a low average annual temperature. The data below shows that Russia is one of the best countries to place a mining farm.

Country Average

electricity rate, $/MWh

Average temperature, ˚C

Argentina 93,5 15,4 Austria 149,0 8,5 Australia 129,0 22,5 Canada 61,3 -4,9 China 89,5 7,6 Japan 170,6 11,9 Russia 47,5 -3,7 Sweden 121,5 4,1 Great Britain 164,8 10 USA 107,8 9,3

In addition, the only type of energy we use at our mining facilities is renewable energy coming from hydroelectric power stations.

There are usually four location options for mining:

1. Home mining 2. Cloud mining 3. Third-party hosting 4. One’s own mining facility The first and the second solutions are used by solo miners, the other two by mining projects. MINERY represents a different solution, set out below.

№ Location Number of

miners

Electricity rate

Maintenance costs

Installation costs

(one time)

1 Home mining 1-5 About 0,09 $/KWh

0 0

2 Cloud mining 0,1-10,000 0,095 $/KWh + 30%

3 Third-party hosting

1-300 0.095 $/KWh +

15% + $40

4 One’s own mining facility

10+ 0.055 $/KWh +

0,09 $/KWh +

$30

5 MINERY 1-50,000 0,04 $/KWh +

0,03 $/KWh $0

Each option has its own characteristics:

1. Home mining is noisy, inefficient and demands constant attention, maintenance and results in additional expenses. 2. Cloud mining lacks transparency: users do not know anything about the hardware used or its efficiency, power consumption and location. 3. Third-party hosting is competitive, but there are few projects providing this service. 4. Operating one’s own farm requires numerous qualified technicians to service it.

Our solution is different. It combines large mining compounds, low entry criteria, high quality hosting, a service center in close vicinity and one of the lowest electricity rates in the whole world.

These characteristics make the MINERY project highly efficient and convenient.

PRICING

The price consists of MNRY tokens and mining hardware purchase costs, plus equipment location fees including:

- Electricity costs - Maintenance fees - Insurance fees

There is no power capacity rental fee for MNRY token holders.

Miners on the market:

Manufacturer

Hardware Currency(ies)

Hashrate

Additional information

Price

Canaan Avalon Miner 821

BTC 11Th/s ASIC

Bitfury Bitfury B8 BTC 50Th/s ASIC

Bitmain Antminer S9 BTC 13.5TH/s

ASIC

Bitmain Antminer L3+

LTC 504MH/s

ASIC

INNOSILICON

A5 DASH 32.5GH/s

ASIC

Atlas Atlas-9C ETH, Zcash

280MH/ s (ETH), 2900H/S (Zcash)

9 GPU x AMD Radeon RX470

MINERY MINERY Base Miner

ETH, Zcash, XMR, Pascal, PascalLite etc.

300MH/s (ETH), 2800H/S (Zcash), 7500H/S (XMR).

10 GPU x nVidia GTX 1070

The hardware list and prices may change over time. Up-to-date information can be found on MNRY.io

Hosting fees, including electricity costs and maintenance fees, are deducted from mining revenue on a daily basis.

Electricity rates vary slightly at each of our five facilities and are given in the table below:

Facility

1 Facility 2

Facility 3

Facility 4

Facility 5

Average

Power capacity, MW

15 10 10 10 10

Electricity rate

USD/ kWh

0.040 0.047 0.047 0.040 0.040 0.042

Clients with their own mining hardware can also use our farm for hosting. Your equipment must conform to the requirements set out by our technical staff.

_______

2 MINERY takes all the necessary measures to keep this price. Still, the project cannot guarantee price invariability including the cases when prices fluctuate on the market or when new hashpower is put to work or redistributed. Rates currently used by MINERY can change.

HARDWARE INSURANCE

Mining equipment constitutes a fire hazard due to its technical characteristics. There are also other risks linked to the usage of this equipment in large mining facilities. That’s why it is important that hardware is insured against fire, flood, earthquake, third-party malicious activity and other risks.

We are currently seeking a partnership with an insurance company to provide the necessary insurance mentioned above. As our partnership has not yet been finalised, insurance terms and conditions are to be determined later. Insurance is compulsory and insurance premiums are included in the hosting fee.

MINERY MINING ECONOMICS

Today, cryptocurrency mining is one of the most lucrative business fields. At the time of writing one bitcoin goes for about $11,000 on exchanges, while the cost of mining it is about $2,500, according to www.whattomine.com. This potential for profit has caused a digital gold rush and an overcrowded industry. In turn, this has led to a shortage of mining equipment, as well as power capacity and mining-ready facilities.

One bitcoin costs about $11,000 on an exchange, but mining it costs about

$2,500.

MINERY offers to its clients a full range of mining services at an attractive price.

As MINERY token holders have access to a mining facility for a minimal hosting fee, they will see their profits increase. Each MNRY token confers the right to use 1 Watt of our farm’s power capacity for the next 30 years rent-free. To take advantage of this offer, the number of tokens purchased must be equal to the amount of power your equipment consumes according to its specifications.

Manufacturer Model Power required Number of tokens

Canaan Avalon Miner 821

1440 Wh 1440

Bitfury Bitfury B8 6400 Wh 6400

Bitmain Antminer S9 1500 Wh 1500

Bitmain Antminer L3+

880 Wh 880

INNOSILICON

A5 DashMaster

810 Wh 810

Atlas Atlas-9C 1300 Wh 1300

MINERY The Minery Base Miner

1800 Wh 1800

Token holders may use this power capacity to install their own miners or they may rent it out to other users by renting out MNRY tokens. In fact, this is all about access to professional mining but the threshold is minimised here.

The MINERY hosting fee consists of electricity costs, maintenance fees and insurance costs.

The client is to pay for the power consumed by their equipment and their share of the power consumed by the compound infrastructure (climatization and cooling, light, alarm and security systems).

FOR INSTANCE, let’s examine profitability of a MINERY farm. This farm is a part of our facility operating on several hardware models and without token leasing. The hardware runs 24/7/365 and will be productive 95% of the time at the minimum.

Indicator Hardware model

1 2 3 AntMine

r S9 13.5TH/s

AntMiner L3+

Atlas-9C

Power consumption W

1500 880 1300

Electricity rate

USD/ Day 1,512 0,887 1,3104

Maintenance fee

USD/ Day 1,08 0,634 0,936

Insurance, USD/ Day

0,2 0,2 0,3

Total expenses,

USD/ Day 2,792 1,721 2,5464

Mining revenue,

USD/ Day 11,5 10,3 19

Mining profits,

USD/ Day 8,708 8,579 16,4536

Mining profits,

USD/ Month 261,24 257,37 493,61

The calculations are based on experimental data received from our MINERY centres in Moscow and Korolev, Russia.

Each MINERY client is able to follow the mining process in their personal account. All transactions including fee payments are performed automatically.

Token management

The purchased tokens can be managed via a personal account on MNRY.io. The client’s equipment is also shown there and corresponds automatically to the tokens purchased.

Our engineering and software solutions will help you bring your equipment into work as soon as possible. In order to be fully hosted, the amount of power consumed by your equipment should equal that of the number of tokens you have purchased or leased.

Token lease

Lessors Those MNRY token holders who either have no interest in mining or possess spare tokens are able to make use of the Leasing section on our website and put their MNRY up for leasing. Average rental fee per token is comprised of power capacity rental fee of 0,04 $/kWh. In order to find a lessee, you should place your offer in the necessary section of your personal account with the number of tokens and rental fee indicated. The tokens will be rented out to the client upon having accepted your offer. The rent will be transferred directly to your personal account.

Lessees If you are not quite sure whether you need to purchase MNRY tokens, you can lease them (if an offer exists at the moment). For instance, you might lease to test the profitability of cryptocurrency mining. To lease tokens, you should complete a demand on the website.

After the termination of the token sale, hosting services will be offered only to MNRY token holders/lessees. Therefore, those having failed to purchase MNRY tokens will have to lease them in order to mine.

The rental fee is levied daily through a special payment program and goes to the tokens’ holder.

Conclusion: Cheap hosting reduces your expenses and increases your profits. Power capacities can be rented out at any moment and the rental fee is stable and easily predictable. The lifetime of MINERY compounds is more than 30 years and they can be successfully used in any Blockchain project. MNRY tokens will thus be usable over the next 30 years. Compare this to the average lifetime of miners, which is only 2.5 years due to the continual increase of mining difficulty.

SOFTWARE

In the summer of 2017, we started developing software that is necessary for the mining compound to operate.

The software consists of three essential elements:

● Operating system for nVidia and AMD GPU mining farms;

● Management application;

● Monitoring application. Operating system

This is a Linux-based system. It includes necessary mining software, and drivers for the GPU and basic hardware components. The system allows the creation of a Preboot Execution Environment (PXE) without needing to boot from a HDD or SSD. This ensures drivers and other software can be installed rapidly across multiple farms, making the system administrator’s work easier and reducing potential equipment downtime. Management application

We have developed a management application, allowing us to centralize GPU farms and the client’s ASIC miner management as well as to adjust the client’s equipment from a single console. We are planning to introduce a smart mining technology here that automatically calculates and then mines the most profitable currencies. A billing system is integrated into the application, allowing equipment hosting settlements to be carried out with our clients automatically.

Monitoring application Our monitoring application helps us control how software, GPU farms and ASIC miners operate. Essential indicators are monitored such as hardware temperature, hashrate, and possible software or equipment errors. With the help of our application, our operators have information on engineering system performance including climatization, telecommunications, security and other systems. Technical engineers are thus able to react to any problem quickly and efficiently.

TOKEN SALE DESCRIPTION MNRY is a standard ERC20 Ethereum token.

MNRY token is an Ethereum token confers the right to use 1 W of MINERY power capacity with your hardware and utilize our mining facilities for the next 30 years rent-free. The pre-sale is the first stage of MNRY token crowdsale before the mining compounds construction is started. During the pre-sale a bonus of 20% is set. You therefore receive a bonus of 20 MNRY tokens for each 100 MNRY tokens purchased.

The pre-sale runs through 15 March 2018 to 30 June 2018. Token sale runs through 01 July 2018 to 30 September 2018.

Token sale supply: 55,000,000.

Token purchasers will receive an additional amount of tokens as a bonus. The amount will be reduced gradually over the course of the token sale.

Token sale weeks Bonus tokens per 100 MNRY

purchased

Pre-sale (min 10,000 MNRY)

20

1-2 10

3-4 8

5-6 6

7-8 4

9-10 2

11- through the end 0

All the MNRY tokens will be issued in full upon the end of the ICO, or until 10 October 2018, whichever comes first.

Payment terms and conditions MNRY tokens are offered for sale first during the pre-sale, then during the main sale. MNRY tokens will be available to purchase for BTC, ETH or fiat currencies via our website on MNRY.io. The purchase can be made using any BTC or ETH wallet. You are free to make use of a wire transfer if the purchase exceeds 1000 US dollars.

The funds are then transferred to accounts belonging to MNRY initial token offering participants and may be used for token purchase. Every account has three wallets (USD/BTC/ETH). If you participate in the main sale, the minimum threshold is 1 MNRY token that is equal to 1 US dollar.

The minimum threshold for pre-sale participants is 10,000 MNRY tokens.

Several days before the main sale starts we will open access to personal accounts on MNRY.io. We will offer you to sign into our website and transfer the funds to your accounts. Users will not able to purchase MNRY tokens via MNRY.io before the main sale unless they are participating in the pre-sale. All accounts will be protected against any third-party access with a two-factor authentication system. All the funds received during token sales are put into an escrow account. Then the funds are leaving the escrow account gradually, as planned mining facilities are being constructed corresponding to the total power capacity of the mining facilities. The MNRY token sale will be terminated upon the end of the sales period. The tokens will be issued and distributed among all token holders no later than 10 October 2018. The tokens issued are then immediately transferred to their holders’ personal accounts on MNRY.io. The holders are then free to use them at their own discretion: either host their own hardware or rent their tokens out. Clients receive their profits in the cryptocurrency they are mining. The profits may be withdrawn from the dashboard to the client’s personal wallet at any moment and upon the client’s demand.

TOKEN DISTRIBUTION AND RATES Our mining compound consists of several facilities and is organized to be flexible in response to token sale dynamics.

The MINERY compound will be put to work if the number of the tokens purchased exceeds the minimum threshold. During the token sale stage, the minimum threshold is of 15,000,000 tokens.

Each 100 tokens purchased, another 10 tokens will be issued to be distributed among MINERY team members, and 5 tokens will be reserved for our partners and advisors at the MINERY team's discretion. That means, for each 100 tokens purchased we bring into service 115 W of our power capacity. 47,8 million tokens will ultimately be distributed among MINERY clients, while 7,2 million tokens will be distributed among the MINERY team, partners and advisors.

If the demand for MNRY tokens exceeds the fixed limit and cannot be satisfied by our mining compounds, tokens will be distributed among purchasers on a ‘first come, first served’ basis. In this case, the clients having failed to receive their tokens’ funds are kept on an escrow account until facilities are provided to satisfy the demand.

MNRY tokens that are to be distributed among MINERY team members will be distributed only when there are no funds on the escrow account that are to be provided by tokens or by additional facilities to be constructed. Tokens withheld will be distributed among team members on a case-by-case basis.

Token sale and distribution terms are determined by the Smart Contract.

PROJECTED SCHEDULE

Initial token offering projected schedule: Presale: 15 March 2018 - 30 June 2018. Book building: 01 July 2018 - 30 September 2018. Token issue: 10 October 2018.

MINERY ROAD MAP 2018 March Purchasing real estate, securing land rights, procuring

hardware, continuing software development for mining compound management.

April Engineering, securing authorizations and approvals. May Ordering electrical equipment, beginning groundwork, laying

foundations for facilities 2-5. Facility 1: begin finishing work, installing internal supply lines.

June Facilities 2-5: finalizing groundwork and laying the foundation.

Facility 1: finishing works, installing ventilation.

July Facilities 2-5: construction works, internal supply lines installation begins. Facility 1: finalizing engineering and finishing works, commissioning preparations, installing transformer substations.

August Facilities 2-5: finalizing engineering, commissioning

preparations, installing transformer substations. Facility 1: finalizing transformer substations installation, connecting and commissioning utilities.

September Finalizing transformer substation installation, connecting and

commissioning utilities. Facility 1: installing and setting up hardware. Finalizing software development for mining compound management.

October Facilities 2-5: Installing and setting up hardware, issuing tokens.

MINERY TEAM

Bruman Ilya, CEO University: Finance and Credit in Plekhanov Russian University of Economics; MBA Finance in London Metropolitan University. 20 years of experience in business (finances, development, investments, HoReCa, IT).

Field: Product development strategy. Financial management. Communication with key partners.

Paikin Alexey, Managing Director

University: MA in Lomonosov Moscow State University Business School; BA in Russian Foreign Trade Academy.

10 years of experience in strategic management and in marketing communications, 8 years of experience in IT project management.

Field: Development strategy. Operational management. Road map elaboration.

Sorokin Kirill, Chief Technology Officer

University: Moscow Institute of Electronics and Mathematics, University of Technology.

15 years of work experience in financial institutions, system integration companies and telecommunication organizations.

Field: Utility and monitoring systems, server framework, telecommunications, data protection, system integration.

Ivanov Ivan, Operational Director

University: Bachelor’s degree in management in Moscow State University.

10 years of experience in technical management.

Field: Equipment supply. Technological infrastructure, technical specifications elaboration, costs estimation, vendor inspection during all the stages of the project.

Kravtsov Andrey, Design director

University: Yaroslavl State Technical University.

13 years of experience in web interface and mobile interface design.

Field: Decomposing and website/mobile application design management. Typography, interface syntax, e-mail communications texting and design. Lebedev Konstantin, Lead programmer University: Yaroslavl State Technical University. 13 years of experience as a full-stack programmer and architect. Field: Technical architecture construction and project management. Front end: project support and refactoring, productivity boosting and optimization, discovery and implementation of innovative solutions and technologies.

Prachuk Natalia, Chief Marketing Officer

University: Taurida National V.I. Vernadsky University 17 years of experience in marketing and IT projects promotion.

Field: Marketing strategy development and integrated marketing communications.

Ekaterina Kifa, PR

University: Odessa University of Economics. 10 years of experience in PR and media relations as well as event marketing.

Field: PR management, content writing and media relations (Blockchain and IT).

Risk factors

MNRY token purchases involve a high degree of risk, including, but not limited to, the risks mentioned below. We highly recommend every potential buyer to study all the information and risks provided in this White Paper and other documents before purchasing MNRY tokens. We also recommend studying other available information.

MNRY tokens are not securities Potential buyers and holders of MNRY tokens acknowledge, understand and agree that MNRY tokens are not securities, a digital currency, a good or any other financial instrument registered in any jurisdiction, including the jurisdiction potential buyers and holders reside in, and should not be viewed as such. MNRY tokens are designed to be used within the MINERY platform and have no value outside it. MNRY tokens do not give its holders any right for a share in the company, its profits, dividends or a right to participate in managing the MINERY company.

1. Dependency on computer infrastructure

MINERY mining facilities, as with any other cryptocurrency mining facility, depend on the functioning of software and hardware, telecommunications equipment and the Internet. MINERY offers services as is, while aiming to sustain uninterrupted operation. MINERY cannot guarantee uninterrupted operation and cannot promise that failures will not affect the mining efficiency of user hardware. In the same way MINERY is not responsible for possible malfunctions of services provided by third parties, including, but not limited to malfunctioning telecommunications, power or other networks, temperature fluctuations, malware and third party malicious actions aimed at unauthorized access and/or incapacitating MINERY hardware or software. It also means that MINERY cannot guarantee that such computer or other infrastructure malfunctions will not have negative effects on MNRY token function and/or MINERY services.

2. Unauthorised access

MINERY takes all possible, reasonable and necessary security measures to protect MINERY services in accordance with security standards. Nevertheless, we still should mention there are risks: hacker attacks, malware, hacking and other actions of third parties aimed at getting access to information systems and/or resources. MINERY takes security matters very seriously, because we are as interested in the project security as our customers are. However, no one can guarantee 100% cyber security.

All cases mentioned above may cause interruption, delay or suspension of services. Third party activities may cause services malfunctions, which may consequently result in MNRY tokens and other MINERY services working in unexpected ways, including delay, interruption and full suspension, and there are no guarantees, that a complete loss of MNRY tokens is not possible.

3. Smart contract limitations and new technologies usage

Blockchain-based technologies and smart contracts used in this project are a big step forward in terms of ensuring better deal security and user protection. Nevertheless, these technologies are new, their development is far from over and their flaws, vulnerabilities and other problems are yet to be fully examined. These technologies are somewhat experimental, and this is why MINERY cannot guarantee that blockchain or smart contracts have no flaws, vulnerabilities and other problems that may cause MINERY service malfunctions or loss of MNRY tokens.

4. Legal risks and lack of a legal framework

Blockchain technologies are a recent phenomenon and there is no well-developed legal framework to regulate them. However, in many countries they are viewed as subject to supervision and control by financial or other authorities. This means either the application of existing laws or adoption of new laws, which may conflict with the MINERY services, including possible limitations of ownership, use and/or movement of tokens, restrictions of its functionality, bans or MNRY tokens alienation. In cases mentioned, MINERY will take necessary and reasonable efforts in order to make the project comply with all the requirements, but it cannot guarantee that potential token holders and buyer will be able to use their MNRY tokens as described in this document.

5. Taxes

Potential MNRY token buyers and holders may be subject to tax in connection to their token holdings, cryptocurrency transactions or mining. They bear full responsibility for definition of their duties as taxpayers in accordance with the legal framework they operate within. Potential MNRY token holders and buyers are also responsible for acting in accordance with their tax legislation and pay due taxes and fees. MINERY does not act as a tax agent and does not provide calculations and/or tax payments for potential MNRY token buyers and holders.

6. Cryptocurrency price and mining costs

MINERY clients are companies and private individuals involved in cryptocurrency mining. Fluctuations of Bitcoin and other currencies rates can lead to failure to fulfil some lessors’ obligations to pay the lease on tokens. In such cases, the contract is terminated, the hardware is disconnected from the power supply and the tokens are offered to a new lessor. MINERY cannot guarantee that exchange rates of currencies mined will remain stable.

MINERY cannot affect cryptocurrency price fluctuations and the latter cannot be used as a reason for any demand from MINERY, including compensation of losses or refunds for purchased tokens. Mining profitability is affected by many factors, including, but not limited to, hashrate, current transaction loads, cryptocurrency value, electricity expenses, hardware costs etc. that MINERY cannot be held liable for. MINERY does not provide any guarantees. Risk assessment is the responsibility of potential buyers and MNRY token holders.

7. Rapid technological advances

Cryptocurrency mining is a highly dynamic business closely connected with new software and hardware development. We keep an eye on the latest developments

and plan to introduce these to our mining compounds. However, if our company fails to meet business effectiveness requirements in spite of our efforts, it may threaten not only our property but token holders also. We recommend token holders pay attention to their own mining hardware performance and update it when needed. Otherwise, it will be more profitable to lease your tokens to other miners.

8. Mining profitability fluctuations

MNRY tokens were designed to give its holder an opportunity to save money by decreasing mining expenses through MINERY services. Token holders can lease their tokens, but it is an additional option. Many factors may affect the lease price, such as market changes, electricity costs at MINERY facilities, network load, demand for cryptocurrencies and even political events etc. MINERY neither guarantees profitability of mining cryptocurrencies, in whole or in part, and is not responsible for any choice made by MNRY token holders. Every MNRY token holder makes the decision to mine one or another currency depending on his knowledge.

9. Construction delays

The construction schedule mentioned in this document is based on reasonable calculations, but the outcome cannot be guaranteed. It can be altered by the circumstances beyond MINERY control including third party (including suppliers and contractors) actions. If the construction is delayed for more than 3 months and paid-for MNRY tokens are not issued, then buyers can demand refunds. Funds are returned in the way they were sent. MINERY is not responsible for any possible change in cryptocurrency or any other currency exchange rate, does not compensate losses and does not pay interest for use of funds.

10. Electricity rate changes

The electricity rate mentioned in this document is the current rate for MINERY mining compounds provided by BESK joint stock company. This rate may change in the future. Every change can affect mining costs, profitability and other expenses related to cryptocurrency mining.

11. Inadequate energy consumption

If power consumption tests show that mining hardware sent to the MINERY mining facilities consumes more electricity than is allowed by the number of MNRY tokens bought to accommodate the hardware, the owner must pay the difference.

12. Changes in energy consumption

Energy consumption can differ for various reasons, including seasonal temperature changes. If energy costs for your hosted hardware exceed the number of tokens bought to accommodate it, you will be charged for additional energy consumption.

13. Maintenance costs changes

Maintenance costs stated in this document are based on staff salaries and their expected working hours for mining facility maintenance at the present moment. Minimum wage and the number of staff may change with time. These changes can affect maintenance costs and the number of tokens required for properly maintaining the hardware operation.

14. Force Majeure

The activity of MINERY LLC or OOO Maineri or the MINERY project can be interrupted or suspended due to circumstances brought about by force majeure.

These are events of emergency that cannot be predicted, such as natural disaster, war, epidemics, industrial disputes, armed conflicts, mass riots, strikes, long-term electricity shortages or power outages, failures of telecommunications services, actions of local or federal authorities and other circumstances outside of our company’s control. If such events occur before MNRY tokens are issued and we cannot issue tokens for 6 months after the announced date, an escrow agent will manage refunds on demand. Funds are returned the same way they were sent. MINERY is not responsible for any possible change in cryptocurrency or any other currency exchange rate, does not compensate losses and does not pay interest for use of funds.

15. Compliance with the laws of the Russian Federation

Mining compounds are located in the Russian Federation, so potential MNRY token buyers and holders must comply with the legislation of the Russian Federation, particularly laws against money laundering, financing of terrorist activities, cryptocurrency mining and other regulations, both present and likely to be introduced in the future. For example, token holders and buyers may be required to verify their identity, address, confirm their registration, business reputation, list of beneficial owners before they can use their MNRY tokens and place their hardware in the mining compound, and any time after that. Token holders whose activity in the Russian Federation is limited, or those who refuse to comply with the laws cannot place their equipment in the mining compound or use MNRY tokens lease services. In such cases MINERY has no obligation to give refunds. These token holders can save their tokens or sell them to the clients who have the appropriate standing for such actions and cryptocurrency mining businesses in the Russian Federation.

16. Disclosure of information

Personal information received from our clients, as well as information about the number of tokens, or information about miners serviced by our company, can be handed over to law enforcement if it is demanded by a court decision or by law. In such cases MINERY has no responsibility for information disclosure for the reasons mentioned above.

17. MNRY tokens price

This project and its financial calculations are based on reasonable and valid data. However, we cannot forecast MNRY token prices, mining costs and profit, because

of the potential future influence of economic forces, market conditions and other conditions that we cannot change or forecast. As we cannot predict how accurate our assumptions will turn out, we also cannot state that our forecasts will turn out to be accurate. Thus, our forward-looking statements are not to be viewed as guarantees of successful accomplishment of all declared intentions. MNRY token price can change for various reasons. However MINERY does not and cannot have any influence over these price changes. We cannot ensure that MNRY token price will stay on any particular level or that it won’t remain unchanged. This is why we declare that we have no responsibility for the changes. Moreover, potential token buyers hereby agree and accept that MINERY does not influence or control MNRY token price, and this token is designed for use in MINERY services and has no specific value outside the MINERY system.

18. Forecasts and estimates

The future of our project is described with words like “can”, “is expected or “will” and other markers of uncertainty or probability of events. These statements are forward-looking statements allowing potential MNRY tokens buyers and holders to understand our company’s beliefs and opinions on the project’s future, but are not guarantees or promises of any result.

Potential MNRY token holders and buyers should understand that such forward-looking statements are connected with known and unknown risks that we cannot predict or change. Therefore, actual project results may differ significantly from any opinions or forecasts published. Our view of future economic, competitive and market conditions and business solutions are not to be viewed as promises or guarantees of successful achievement of the project’s goals. All examples of calculating income and profits used in this document are only provided as a demonstration; we do not guarantee that such results will be achieved. We will try to provide valid information, but we do not take responsibility to update forward-looking statements if circumstances or our estimates change.

There are other risks that MINERY cannot foresee, in addition to the risks mentioned in this document. These risks may materialize in other forms not specified in this document.

Due to MNRY tokens being in a stage of development and improvement, its structure, algorithms, code and other technical specifications and options may be updated, modified and improved at any time. MINERY reserves the right to change the technical components and technical presentation of the token as the project progresses.

Despite this document containing all relevant information at the current time, it cannot be viewed as the final version and all the information mentioned herein can be changed or updated without notice. We recommend keeping track of changes in this document to stay up to date. MINERY takes no responsibility for notifying you about every detail of MNRY and MINERY services development, including work progress and/or reaching of our goals or indexes, whether planned or unplanned. MINERY is not responsible for providing you with full, up-to-date access to this information but will take all necessary and reasonable efforts.

Hereby, a potential MNRY token buyer or holder confirms, that he or she has examined this document, current laws of their jurisdiction and other applicable rules of law, understands and accepts risks and expenses connected to the purchase of MNRY tokens and acts in his or her own interest on his or her own behalf.

Future plans

After the 5 mining compounds in Irkutsk Oblast are built, MINERY will focus on service improvement in the following directions:

Support for new currencies and mining hardware. Both the number of cryptocurrencies and the range of mining hardware designed to work with these cryptocurrencies is increasing every day. MINERY is doing its best to keep up with progress and offer its clients new possibilities for operations with new currencies.

Hardware upgrade and development. Standard hardware used for mining has a number of flaws, ranging from insufficient performance to unreliable cooling systems. Our experts will work hard to provide the most modern hardware for our customers. As we progress, we will implement our own engineering solutions.

Smart Mining. One of the new approaches to mining we are planning to implement is mining different currencies within the algorithms supported by the hardware. Profit gained from mining different currencies may change depending on many parameters, such as exchange rates, current mining difficulty and the number of miners. From time to time, mining one currency or another becomes dramatically more profitable in USD or BTC terms. We will work on developing an effective mathematical algorithm that would allow our clients to increase their profits by choosing the best mining strategy.

Legal support. Currently, state involvement in our clients’ activities is rather limited. However, the current sentiment in the media shows that it is soon to change. Governments are developing new cryptocurrency regulations including trading and mining activities licensing. We are ready to offer our clients highly competent lawyers specializing in the field of cryptocurrency.